Edit

Equity Slump Continues, Lifts Bonds, Bolsters Yen

December 06, 2017
The swoon in equities, perhaps sparked by a rotation spurred by potential US tax changes, is continuing today. It is providing a risk-off mood, which is expressed in the foreign exchange market as a stronger yen.  The most compelling answer of yen strength is not that investors are buying yen as a haven.  Japanese stocks are among the worst of the…
Equity Slump Continues, Lifts Bonds, Bolsters Yen Equity Slump Continues, Lifts Bonds, Bolsters Yen Reviewed by Marc Chandler on December 06, 2017 Rating: 5
Edit

Great Graphic: Euro Pushes below November Uptrend

December 05, 2017
The euro is losing ground for a third consecutive session.  It is the longest losing streak since the middle of October.  

The Great Graphic here, created on Bloomberg, depicts the euro since the beginning of last month.  After falling in September and October, the euro trended higher in November.  
It peaked on November 27 near $1.1960, just shy …
Great Graphic: Euro Pushes below November Uptrend Great Graphic:  Euro Pushes below November Uptrend Reviewed by Marc Chandler on December 05, 2017 Rating: 5
Edit

China and the Elusive Market Economy Status

December 05, 2017
The year began with US President-elect threatening to cite China as a currency manipulator and to impose a tariff on Chinese imports.   Neither step was taken.  The US withdrew from the Trans-Pacific Partnership, which had been negotiated for several years and was an important economic component of the US "pivot to Asia." 
Into the summe…
China and the Elusive Market Economy Status China and the Elusive Market Economy Status Reviewed by Marc Chandler on December 05, 2017 Rating: 5
Edit

Sterling Sold on Negotiating Snafu, Aussie Bounces on Retail Sales and RBA

December 05, 2017
The US dollar is confined to narrow ranges against the euro and yen, straddling unchanged levels in the Asian session and the European morning.   The action in elsewhere. 
The British pound is the weakest of the majors, paring 0.4% against the greenback, though around $1.3425, it can hardly be considered weak.  A month ago, sterling was a few cent…
Sterling Sold on Negotiating Snafu, Aussie Bounces on Retail Sales and RBA Sterling Sold on Negotiating Snafu, Aussie Bounces on Retail Sales and RBA Reviewed by Marc Chandler on December 05, 2017 Rating: 5
Edit

Cyber-Monday: Venezuela, UK, CME/CBOE

December 04, 2017
While investors are musing about the final form the US tax changes and the Brexit negotiations, cyber-currency interest has been bolstered by Venezuela's announcement over the weekend.  President Maduro said that Venezuela would issue a digital currency.  It could be the first sovereign to do so, which would seem to undermine the decentralized…
Cyber-Monday: Venezuela, UK, CME/CBOE Cyber-Monday:  Venezuela, UK, CME/CBOE Reviewed by Marc Chandler on December 04, 2017 Rating: 5
Edit

US Dollar Marked Higher After Senate Passes Tax Reform

December 04, 2017
The US dollar opened higher in Asia and retained those gains through the European morning.  The greenback has recouped most of the pre-weekend losses recorded in the wake of the indictment of a fourth former Trump Administration official by the special investigation into Russia's involvement in last year's election. 
However, two weekend de…
US Dollar Marked Higher After Senate Passes Tax Reform US Dollar Marked Higher After Senate Passes Tax Reform Reviewed by Marc Chandler on December 04, 2017 Rating: 5
Edit

Emerging Markets: Preview of the Week Ahead

December 03, 2017
(from my colleague Dr. Win Thin)
EM FX ended the week on a mixed note.  US jobs data may refocus market attention on Fed tightening.  Most EM inflation readings this week are expected to show easing price pressures, supporting a dovish EM central bank outlook.  The major exceptions are Mexico and Turkey, whose central banks may be forced to tighte…
Emerging Markets: Preview of the Week Ahead Emerging Markets:  Preview of the Week Ahead Reviewed by Marc Chandler on December 03, 2017 Rating: 5
Edit

Politics may Continue to Overshadow Economics

December 03, 2017
The new monthly cycle of high frequency economic data has begun. The manufacturing PMI shows the synchronized global recovery is continuing.  The service sector and composite PMI will be reported in the week ahead.  They are unlikely altering the general expectation for robust growth in Q4.  
Even the disappointing US auto sales  (17.35 mln seasona…
Politics may Continue to Overshadow Economics Politics may Continue to Overshadow Economics Reviewed by Marc Chandler on December 03, 2017 Rating: 5
Powered by Blogger.